Lenders help address, resolve readers’ concerns
One customer thought auto debit would avert late payment fee, another faced a problem with closing her bank account while the third was unhappy with his experience and extra charges
Bank charges
Iwould like to bring to Gulf News’ attention that I was charged three months’ late fee, along with interest, by Mashreq Bank on my credit card. This has happened for the past three months, unfairly. When I started working in my new company, it was mandatory to open a salary account with Mashreq.
When Mashreq’s sales representative came to sign me up for the new bank account, I requested a credit card. Accordingly, I was told to sign in a few places in the corresponding form. I was never given a chance to read the fine print. As I have done in the case of previous credit cards I have used, I told the sales representative to link my salary account and credit card, so that my credit card charges would be automatically paid from my salary account every month. Accordingly, he promised to do the same.
Unfortunately, only recently, I came to know that I was charged a late fee of Dh414 for three months and interest — totalling Dh1,340 — despite making limited purchases. Somebody called me from the collections department of Mashreq and directed me to go to a branch to address my grievance. I visited a branch and was told to call on their customer care number instead. I was told from the customer service department that half of one month’s late fee can only be reversed, at the maximum.
If Mashreq’s sales representative kept his promise, I wouldn’t have incurred penalty charges of Dh1,340. There was always money in my account. It is outrageous to charge a late fee of Dh414 on my first month, with purchases of a mere Dh25. Please help me get at least all my three months’ late fees reversed. I am pretty sure that other than the interest, Mashreq hasn’t incurred any loss due to this issue.
From Mr Sreejish Lal
Dubai
The management of Mashreq bank responds:
Thank you for sharing Mr Lal’s concern with us.
We have examined his concerns regarding the late payment fees and interest on his credit card and our response follows. Our investigation reveals that the credit card application and the account opening applications have been filled by the customer at the same time, therefore there was no account number mentioned on the auto recovery field in the application form.
There was no subsequent request received from the customer after the credit card was issued in January 2018, since he was under the impression that the account would be linked automatically.
We have called Mr Lal and explained the matter and as a benefit of doubt, we have offered to reverse the amount of Dh1,340.27 — which includes interest and late payment charges levied from the inception of the credit card. Mr Lal’s account has now been linked with the credit card for a full auto recovery as per his instructions.
We take this opportunity to thank Gulf News once again for bringing this issue to our notice.
Mr Lal responds:
Thanks Gulf News for raising my complaint to Mashreq. Mashreq has indeed agreed to reverse the late fees and interest. This resolution was finally made possible and I thank Gulf News for the same.
(Process initiation: May 22. Response from organisation: May 22. Reader confirmation: May 22.)
Closing account
Ihave a current account with First Abu Dhabi Bank (FAB) and I have had this account since April 2016. I have a personal loan account and credit card of Dh8,500 each. Recently, I had to top up my existing loan after a period 14 to 16 months.
While applying for a loan I repeatedly told the representative from the bank that I have two cards, which I would like to close, but the reply from the bank (loan section) was that they could not close the two cards but could reduce the existing amount. The loan was approved and cash was credited to my account. They held my December 2017 salary and one card is closed. They are insisting that I close the other card too, and my account has a negative balance. I am the only earning member in my family and have been repeatedly approaching the branch. The branch manager is also trying to help but the credit section is very adamant and is not trying to understand my situation. Please help me. They want me to pay the outstanding amount in one go.
From Ms Alice Abraham Sharjah
The management of FAB responds:
FAB supports the growth ambitions of its stakeholders and goes beyond financial products and services, and as such, we are grateful for all customer feedback as we strive to consistently deliver the highest standards of service. The customer took out a loan that was approved based on the condition that all debts on her credit cards would be settled and cards would be cancelled. Customer settled and closed only one of the cards and still needs to do the same for the other card. Customer has been contacted and informed.
(Process initiation: January 27, 2018. Response from organisation: January 31 , 2018. Process completion: May 31, 2018)
Outstanding balance
Iam using a Dubai First card with a limit of Dh64,000. For the past 20 days, I have been trying to connect with them, with regard to my outstanding balance, which, to my surprise, was at Dh73,000. I have never missed a payment, neither have I ever defaulted. I want an amicable settlement plan. The major issue is the cancellation charge for the card, which is Dh10,000. I need help regarding this. I cannot get hold of anyone at Dubai First. I have sold an asset in my home country and I want to settle this loan.
From Mr Shahriyar Wasif Dubai
The management of Dubai First responds:
At Dubai First, we are committed to
provide the best of service to our card members and protect their interests. Mr Wasif has been contacted and his concern has been addressed immediately. We have reiterated the terms and conditions that have been agreed to by the customer at the time of obtaining the Balance Transfer.
We have cleared his misconception about the cancellation charges, which are only Dh100. We have explained the available options to solve his issue. The customer has accepted the above. We thank you for bringing this to our attention.
Mr Wasif responds:
They categorically told me that my request could not be entertained and was declined by the management. It is best to close the chapter. It won’t do me any good.
(Process initiation: January 27. Response from organisation: January 31. Process completion: April 18.)
■ Editor’s note: Do you have similar issues that you would like to raise with us? You can write to us at readers@gulfnews.com.
As I have done in the case of my previous credit cards, I told the sales representative to link my salary account and credit card, so that my credit card charges will be automatically paid from my salary account every month. Accordingly, he promised to do the same. Unfortunately, only recently, I came to know that I was charged a late fee of Dh414...”
Mr Sreejish Lal | Dubai
The major issue is the cancellation charge for the card, which is Dh10,000. I need help regarding this. I cannot get hold of anyone at the bank. I have sold an asset in my home country and I want to settle this loan.”
Mr Shahriyar Wasif | Dubai